Wednesday, September 25, 2019

Outcomes of UN Climate Action Summit in New York

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United Nations Climate Action Summit, which was held in New York on September 23, 2019, boosted climate action momentum, and demonstrated growing recognition that the pace of climate action must be rapidly accelerated.
 Among major outcomes of the Summit:

  • 65 countries and  sub-national economies committed to cut GHG emissions to net zero by 2050
  • Over 100 business leaders delivered concrete actions to align with the Paris Agreement targets,  including asset-owners holding over $2 trillion in assets and leading companies with combined value also over $2 trillion 
  •  Many countries and over 100 cities - including many of the world’s largest - announced significant and concrete new steps to combat the climate crisis
  • 12 countries made financial commitments to the Green Climate Fund, the official financial mechanism to assist developing countries in adaptation and mitigation practices to counter climate change.
  • The European Union announced at least 25% of the next EU budget will be devoted to climate related activities
  • 130 banks – one-third of the global banking sector – signed up to align their businesses with the Paris agreement goals.